Texas Led Nation In FDI, Employment In 2020
1 Jul 2021
By U.S. state, Texas received the largest investment, with expenditures of $18.6 billion, followed by California ($17.8 billion) and New Jersey ($14.1 billion). By U.S. state, Texas also had the largest employment by newly acquired, expanded or established foreign-owned businesses (between 50,000 and 100,000), followed by California (21,000) and Arizona (9,300).
“That Texas led the nation in FDI is good news, especially in light of the pandemic and its global economic impact,” said Robert Allen, President and CEO of the Texas Economic Development Corporation (TxEDC). “The data shows that even during periods of economic uncertainty, business decision-makers around the world trust that Texas is always a great investment.”
Allen credits Texas’ business climate, reasonable regulatory environment and its robust workforce for growth not only in foreign direct investment but in business relocations to Texas from states like California.